One of the many beautiful golf
courses in the area |
 
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Contact me with confidence! I guarantee your
privacy will be respected. And I offer the services on this site for
free and without obligation. Why? I want to be YOUR Real Estate
Broker. As your trusted, professional real estate partner, I will
help you find the best home in your area within your price range.
And together we will sell your home, for as much as the market will
bear, and as quickly as possible.
Buying and selling a home is one of the biggest
events in your life. As a top Thousand Oaks and Westlake Village
Real Estate Broker, I have the experience and track record you are
looking for. Please let me help.
- Barbara Simmons
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Tax
Considerations >Tax Rewards for
Homeowners
The
Federal Tax Code has significantly improved the American
taxpayer's ability to profit by selling a principal
residence. Prior to 1997, homeowners could take advantage of
a tax benefit termed the "rollover", which granted exemption
from capital gains taxes on the net profit from the sale of
a home. Homeowners who used profits to purchase a bigger and
better home did not have to pay tax. And homeowners over the
age of 55 were given a once-in-a-lifetime exclusion from
taxes on profits of up to $125,000 on the sale of their
principal residence.
Compare those tax breaks with
our current, streamlined and potentially more profitable
arrangement that replaced both the rollover and the one-time
exemption. If you are a married home-seller filing jointly,
you may enjoy up to $500,000 in tax-free home sale profits,
provided you have occupied the property as your principal
residence during two of the last five years. Taxpayers who
file singly get a $250,000 capital gains exclusion.
Homeowners are eligible to exclude capital gains on the sale
of a principal residence as often as once every two
years.
The law allows capital gain exclusions whether
you "buy up" to a more expensive home or "buy down" to a
less expensive one. The tax-free dollars can be used in any
way you want. Consult your tax advisor for detailed advice
about your particular circumstance.
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| Q |
What
was the world's highest viewing platform before
the opening of the Empire State Building in 1939?
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| A |
The
Eiffel Tower, built between 1887-1889, was for 42
years the highest viewing platform in a man-made
structure. |
 See More Real Estate
Trivia > | |
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